We’re live at the St. George Theater in Staten Island, a restored 1929 movie palace on the island’s north shore, where Mayor Michael R. Bloomberg is delivering his 10th State of the City address at 1 p.m. Watch the speech live.

Mr. Bloomberg said the city economy was improving but that the challenge was to do more with less, while not raising taxes or cutting vital public safety services.

Beyond policy, the speech offers Mr. Bloomberg an opportunity to beat back speculation that he has grown ineffective and distracted in his third term. This is Mr. Bloomberg’s chance to remind New Yorkers of the signature accomplishments that have made him popular, and to reassert his third-term agenda.

1:45 PM: Critics Weigh In Even Before Speech Ends

The critics have begun to chime in. The Living Wage NYC Coalition, a group that has advocated for higher wages for the city's poorer residents, has circulated an e-mail criticizing Mr. Bloomberg's management of the economy. "Working poor New Yorkers are still waiting for the economic recovery the mayor referenced in his speech," the e-mail says. Meanwhile, Mr. Bloomberg has begun ticking off a list of development projects he will pursue, including an amusement park in Brooklyn called the "Scream Zone" and an ice-skating rink in the Bronx.